Your Sports Betting Glossary
The world of sports betting is an exciting one. There are so many fun sports to wager on, and there are countless benefits to sports betting too. However, if you’re new to it, you may be a little bit confused by some of the terms associated with sports betting at first.
Not to worry – this is where we come in. We’ve put together this list of key terms and definitions to help you become more familiar with them so that the next time you’re getting ready to place your bets, you know exactly what to expect, and you’re able to approach each wager with more confidence.
We’ll start off with this one as you’ll probably come across it quite often, and it is very easy to understand. Simply put, the term “action” in sports betting refers to a wager of any kind.
In most athletic or Olympic events, we see the first three finishers up on the podium. When sports bets are placed on these three positions, we refer to it as a “trifecta”.
Bankroll management is one of the most important aspects of sports betting. Just like one would manage their own personal bank account, players should manage their own betting bankroll. This involves measures such as setting limits on wagers, looking around for the best odds, and only betting what you can afford to lose. With effective bankroll management, you’ll find that your sports betting feels all the more rewarding.
Acronyms tend to make things seem a bit more complicated, but luckily, that’s not at all the case when it comes to sports betting. What ATS stands for is quite simple: against the spread odds. Essentially, an ATS is designed specifically to create action in equal parts on both sides of the game or competition, resulting in greater levels of excitement for players.
A backdoor cover refers to an instance in which a team wins despite unimaginable odds against the bet. This is often the result of a late score in a sporting event with an outcome that has already been determined. In other words, a backdoor cover occurs when a score helps players cover a spread bet, but the ultimate winner is not affected.
Every sporting event whether it’s listed at a land-based bookmaker or at an Australian sports betting site has an opening line. This refers to the initial odds of the match. Generally, this line moves up or down depending on which team has the most money wagered on it. Opening lines can be affected by several different factors, and as a result, often differs from the closing line.
The closing line is an important one to pay attention to. Simply put, the closing line refers to the final odds placed on an event before pre-game bets are no longer accepted. As a rule of thumb, this line will move up and down depending on which team or player has the most money wagered on it. This is often heavily affected by factors such as suspensions and injuries.